Film shoot brings Valleywood hope

Administrators at a film studios are hoping the shooting of a medieval action movie will help find a buyer.

The troubled so-called Valleywood studios in south Wales were mothballed 18 months ago with two companies behind them owing £15m to creditors.

But now the Dragon International studios are being leased out to film Ironclad, starring Sir Derek Jacobi.

Pricewaterhouse Coopers hope the use of the studios and success for the first production will attract new interest.

A replica of Rochester Castle in Kent has been built out of wood, metal and plastic at the studios, at Llanilid, Rhondda Cynon Taf.

VALLEYWOOD - THE STORY SO FAR Aug 2001: Dragon International Studios project announced, with plans to be an "international centre of excellence" and 2,000 jobs 2002: Assembly government withdraws objections to the plans and they are backed by Rhondda Cynon Taf Council June 2003: Grant delays frustrate developers, who consider moving to the LG site at Newport Sept 2004: Work on the first stage delayed due to rare dormouse habitat being found April 2005: Work delayed again by wait for grant money Jan 2006: More delays, this time due to sewerage plans and bad weather June 2007: Wales Film Agency chairman frustrated at progress of development and wants project to "put up or shut up". March 2008: Administrators called in, with news 20 creditors owed £15m. Work later completed on studios. Nov 2009: Filming starts on first film Ironclad, with the studios rented out to production company

The £12m film is about a siege by King John, played by Paul Giamatti, in a pivotal period of 13th Century English history, as he fought for power with his barons.
Administrators are also preparing for the long haul and admit it could be another 12 months before the end to an eight-year saga and the fate of the studios is decided.

The site, including 60,000 sq ft of studio space, is owned by Dragon International Studios and Westair Properties Ltd, both of which went into administration in March 2008.

Administrator Rob Lewis, a partner at Pricewaterhouse Coopers, said work had been carried out to complete the studios before they were mothballed, while he looked for a buyer or new investment. "Since that time we've spent quite a lot of time seeing what options are available to the two companies," said Mr Lewis.

"We've been looking at a re-financing option and we've looked to see if the assets can be sold.

"Obviously it's quite difficult market conditions at the moment to achieve both of those so in the last few months we've been looking at renting the studios out and I'm pleased we're at the stage now when we're shooting the first film."

Mr Lewis said: "Getting the first film made there is psychologically very important.

"We're hoping others will look at the project, which lots of people said wouldn't work. If we can make a film and it can be seen the film is a success, it will encourage others to bring their productions there as well."

He added that in his view the companies had gone into administration because they relied too much on debt funding rather than money from equity investors to "effectively give a cushion to completion".

Mr Lewis said he had a "broad range" of options still available and was talking to interested parties, while hoping market conditions ease.

In the meantime, the studios were available for rent.

"The feedback we've got from the production company, and from the actors on the set, is very positive so we hope it will bring in others as well."

'Medieval Magnificent Seven'

The £330m studio project on a former opencast mine site at Llanilid was first unveiled in 2001.

Its chairman, Oscar-winning director and actor Lord Attenborough, said Dragon could be a centre of the UK film industry.

But it was dogged by delays, with problems ranging from grant funding to the discovery of rare dormice.

The first film to emerge from the studios, Ironclad, will tell the story of King John in 1215 trying to wrestle back power from the barons in the aftermath of the signing of Magna Carta.

Originally Ironclad was to have been shot in Germany and Hungary but the collapse in sterling caused the producers to look elsewhere.

It's the first time, certainly since the commission has been going that a film on this scale has been based entirely in Wales Wales Screen Commission spokesman

Rick Benattar, one of its producers, said: "I never dreamt of making it in Wales, but we came over here, scouted locations, and had a great time.

"I've also been amazed by the amount of Welsh talent - skilled labourers, crews and actors. These guys will work through thick or thin, whereas in the States as soon as it rains everyone leaves for the day."

The Wales Screen Commission has been heavily involved in getting Ironclad, which has also had backing from the Wales Creative IP Fund, filmed in Wales.

A spokesperson said the "opportunity has finally opened up for other large scale productions to be based here in south Wales".

"It's the first time, certainly since the commission has been going that a film on this scale has been based entirely in Wales.

"We're used to high-profile productions coming over and using the fabulous locations that Wales is famous for, but only for one or two weeks at the most, then they go back to London for the studio space they require for their sets."

Mr Benattar said the story was like a "medieval Magnificent Seven" and he wants film-goers to feel like they are in the middle of a battle, when it is released in 2010.

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